With the online retail portals constantly striving to stay ahead of the game, they will now have yet another competitor in the market. Reliance Retail Ltd is in the process of embedding its e-commerce application JioMart with WhatsApp- within the next six months, users of WhatsApp will be able to access all products without having to leave the app platform.
This new development from Reliance Retail will change the current dynamics of the online purchase and will even pose a threat to the likes of Amazon and Flipkart. Reliance is currently India’s largest offline retailer and is estimated to reach a share of the online retail market that is approximated at $1.3 trillion. Facebook Inc. already has a 9.9% stake in Jio Platforms for $5.7 billion.
Though many merchants use apps such as Bikayi or Dukaan for customer engagement, the integration level that WhatsApp and JioMart are building together is much more nuanced. Soon more consumers and merchants will be able to make use of this platform for better communication in retail and the retail options will increase as well.